By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 16 (CNS Canada) – ICE Canada canola contracts were stronger Friday morning, with sharp declines in the Canadian dollar providing support.
The currency was down by half a cent relative to its US counterpart, which boosts crush margins and makes exports more attractive to international buyers.
Wet weather continues to cause harvest delays across parts of Western Canada, and is also raising quality concerns, which contributed to the gains in canola, according to participants.
However, expectations for a large crop overall limited the upside. Burdensome US soybean supplies were another bearish influence.
About 4,500 canola contracts had traded as of 8:50 CDT.
Milling wheat, durum, and barley futures were all untraded.
